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Bentonite Market Growth Analysis | 2023-2028
Bentonite Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
The bentonite market was estimated at USD 1.76 billion in 2022 and is likely to grow at a CAGR of 8.1% during 2023-2028 to reach USD 2.81 billion in 2028.
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Bentonite is a kind of clay that is mostly made up of the mineral montmorillonite, which is abundant in hydrated aluminum silicates. It originates from layers of volcanic ash that have seen considerable weathering over time. Bentonite, a unique material with several uses in industry, is used to make foundry sands, drilling muds, and cat litter. It can absorb huge amounts of water and expand to many times its original volume.
Furthermore, its capacity to combine water to produce a gel-like material renders it advantageous in environmental and geotechnical engineering contexts to seal and line ponds, landfills, and wastewater containment systems.
COVID-19 Impact
The lockdown caused a minor slowdown in the market in 2020. The COVID-19 pandemic has increased churn and shaken nearly every industry. The lockdown is harming manufacturing, supply chains, and logistics, as well as the continuity of operations in various sectors.
Manufacturing, transportation & logistics, retail, and consumer goods face the most challenges. The availability of essential items is hampered by a lack of manpower to work on production lines, supply chains, and transportation, even though essential items are exempt from the lockdown.
Key factors driving the growth of the bentonite market are:
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The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.
The following are the key players in the global bentonite market (arranged alphabetically).
Note: The above list does not necessarily include all the top players in the market.
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
|
Product Type |
Sodium, Calcium, Sulphur, and Others |
Sodium bentonite is likely to remain dominant in the market during the forecast period. |
|
Application Type |
Foundry Sands, Cat Litter, Iron Ore Pelletizing, Refining, Drilling Muds, Civil Engineering, and Others |
Foundry sands application dominated the market and is expected to remain the major application type during the forecast period. |
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Region Analysis |
North America, Europe, Asia-Pacific, and the Rest of the World |
North America is estimated to be the largest market whereas Asia-Pacific is expected to witness the highest growth during the forecast period |
The market is segmented into sodium bentonite, calcium bentonite, sulphur bentonite, and others. Sodium bentonite is likely to dominate the market during the forecast period, owing to higher water absorption than calcium bentonite, it can be used as binders, liner materials, and waterproofing materials.
The bentonite market is segmented into foundry sands, cat litter, iron ore pelletizing, refining, drilling muds, civil engineering, and others. Foundry sands application dominated the market and is expected to remain the major application type during the forecast period.
In terms of region, North America is estimated to be the largest market driven by large-scale drilling and exploration activities in the USA. Asia-Pacific is expected to witness the highest growth during the forecast period driven by emerging economies such as China, India, ASEAN countries, and others.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s bentonite market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our bentonite market report from the industry stakeholders, we have tried to further accentuate our research scope to the bentonite market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The bentonite market is segmented into the following categories:
By Product Type
By Application Type
By Region
Click here to learn the market segmentation details.
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
Bentonite is a kind of clay that is mostly made up of the mineral montmorillonite, which is abundant in hydrated aluminum silicates. It originates from layers of volcanic ash that have seen considerable weathering over time. Bentonite, a unique material with several uses in industry, is used to make foundry sands, drilling muds, and cat litter. It can absorb huge amounts of water and expand to many times its original volume.
The bentonite market was estimated at USD 1.76 billion in 2022.
The bentonite market is likely to reach USD 2.81 billion in 2028.
The bentonite market is likely to grow at a CAGR of 8.1% during 2023-2028.
Some of the major players in the market are Black Hills Bentonite, CETCO, Delmon Group of Companies, Halliburton, and Mineral Technologies.
North America is estimated to be the largest market for bentonite during the forecast period.
Foundry sands application dominated the market and is expected to remain the major application type during the forecast period.
Key factors driving the growth of the bentonite market are the Infrastructure growth in developing economies such as India, Brazil, and China is driving the construction industry. Bentonite is used in tunneling, building waterproof screens, slurry walls, waterproofing foundations, and stabilization of casings. Increasing use of bentonite in oil well cement and drilling fluid applications.
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